The first “saleable” harvest from Canadian cannabis big Aurora’s Nordic 1 facility in Denmark is predicted to be prepared by the top of first quarter 2019, the corporate disclosed in a regulatory submitting launched alongside its quarterly earnings this week.
Products can be obtainable the next quarter.
Aurora is among the Canadian cannabis companies racing to determine a cultivation foothold in Europe to faucet the continent’s appreciable progress.
Sales of medical cannabis abroad – particularly in Europe – are an enormous a part of the worth proposition for a lot of Canadian marijuana corporations.
Aurora’s sales of medical cannabis within the European Union for the second fiscal quarter of 2019 amounted to three.2 million Canadian dollars ($2.four million), a rise of CA$100,000 – and 43,153 grams (95 kilos) – from the earlier quarter, the corporate disclosed.
Europe accounted for about 6% of Aurora’s internet income within the quarter and Canada for 92%.
Aurora Cannabis introduced preliminary plans for a 200,000-square-foot facility in Denmark in January 2018, which was downsized to 100,000 sq. ft three weeks later.
In August 2018, Aurora shipped cultivars from Canada to its three way partnership with Pedersen & Son (APS) in Denmark to begin populating the Phase I facility, saying on the time that “full production capacity of 8,000 kilograms per year of medical cannabis” can be achieved “over the coming months.”
The second part – Aurora Nordic 2 – is underneath development.
Aurora anticipates it can present a further of 100,000 annual kilograms of medical cannabis when full in 2020.
Aurora trades as ACB on the New York Stock Exchange and Toronto Stock Exchange.
Matt Lamers might be reached at [email protected]
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